The image of Mahatma Gandhi Only will be printed In currency notes: RBI Governor
Posted on: 12/Aug/2014 1:17:18 PM
The governor of the Reserve Bank of India, Mr. Raghuram Rajan has informed that only the image of Mahatma Gandhi and nobody else will be printed in Indian currency notes.
The governor of RBI was participating in a function for Lalith Joshi Remembrance Occasion in Mumbai.
He was asked whether the photos of Mr. Rabindranath Tagore, one of the most eminent literary figures and Mr. Homi Baba, the pioneer of Indian nuclear science development would be printed in Indian currency notes.
The governor responded by saying that there several eminent leaders in the country worthy of being printed in the Indian currency notes. However, doing so will lead to a lot of controversies. There would be a lot of questions raised about whether the was really better than some others. Hence, it is advisable to continue the prating of the country’s best person, Mahatma Gandhi and there are no plans to include anyone else.
The current taxation system is proper in most parts of the country. For example, the highest income earners are charged a maximum of 33% tax. However, in USA, it is 39%. As compared to this, the tax rates are reasonable in many industrialised countries.
It is also important to monitor all undisclosed incomes and impose a special tax on them. However, doing this will be quite difficult. At the same time, it is also difficult to hoard black money without letting it in circulation for a long time.
